Aris Water Solutions (NYSE:ARIS) Stock Price Up 3.8% – Here’s Why

Shares of Aris Water Solutions, Inc. (NYSE:ARIS) were up 3.8% on Tuesday . The company traded as high as $30.18 and last traded at $30.08. Approximately 346,507 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 492,751 shares. The stock had previously closed at $28.99.

Analysts Set New Price Targets

ARIS has been the subject of several research reports. The Goldman Sachs Group lifted their price target on Aris Water Solutions from $21.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Evercore ISI downgraded shares of Aris Water Solutions from an “outperform” rating to an “in-line” rating and upped their price target for the company from $25.00 to $27.00 in a report on Wednesday, January 15th. Stifel Nicolaus increased their price target on shares of Aris Water Solutions from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Wells Fargo & Company lifted their price objective on Aris Water Solutions from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Finally, Citigroup reiterated a “neutral” rating and set a $26.00 target price (up previously from $18.00) on shares of Aris Water Solutions in a report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $27.00.

Aris Water Solutions Trading Up 2.9 %

The business’s 50-day moving average price is $27.75 and its two-hundred day moving average price is $23.18. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 37.29 and a beta of 1.88. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.72 and a quick ratio of 1.72.

Aris Water Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.88%. This is an increase from Aris Water Solutions’s previous quarterly dividend of $0.11. Aris Water Solutions’s payout ratio is currently 70.00%.

Insider Buying and Selling

In other Aris Water Solutions news, insider Nicholas A. Patterson sold 8,299 shares of Aris Water Solutions stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $30.60, for a total value of $253,949.40. Following the transaction, the insider now owns 58,228 shares in the company, valued at $1,781,776.80. This trade represents a 12.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jeffrey K. Hunt sold 10,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $28.92, for a total transaction of $289,200.00. Following the sale, the chief accounting officer now directly owns 44,827 shares of the company’s stock, valued at $1,296,396.84. This represents a 18.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 948,881 shares of company stock worth $24,246,969. 23.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aris Water Solutions

A number of large investors have recently modified their holdings of ARIS. JPMorgan Chase & Co. increased its position in Aris Water Solutions by 116.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 402,093 shares of the company’s stock worth $6,783,000 after purchasing an additional 216,158 shares in the last quarter. Barclays PLC grew its stake in Aris Water Solutions by 277.0% during the third quarter. Barclays PLC now owns 35,102 shares of the company’s stock worth $592,000 after buying an additional 25,790 shares during the period. State Street Corp increased its position in shares of Aris Water Solutions by 13.8% in the third quarter. State Street Corp now owns 662,324 shares of the company’s stock worth $11,173,000 after acquiring an additional 80,490 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Aris Water Solutions by 66.2% in the 3rd quarter. HighTower Advisors LLC now owns 21,341 shares of the company’s stock valued at $361,000 after acquiring an additional 8,499 shares during the period. Finally, Franklin Resources Inc. acquired a new position in shares of Aris Water Solutions during the 3rd quarter valued at $266,000. 39.71% of the stock is currently owned by hedge funds and other institutional investors.

Aris Water Solutions Company Profile

Aris Water Solutions, Inc, an environmental infrastructure and solutions company, provides water handling and recycling solutions. The company's produced water handling business gathers, transports, unless recycled, and handles produced water generated from oil and natural gas production. Its water solutions business develops and operates recycling facilities to treat, store, and recycle produced water.